25C00100 - Entrepreneurship and Innovation Management, 01.11.2018-22.11.2018
This course space end date is set to 22.11.2018 Search Courses: 25C00100
Glossary
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL
I |
---|
incomplete contractsFactors that prevent complete contracting
| ||
incumbentsIncumbent is a firm that is already operational in a
market. Entrant is a firm that is aspiring to enter the market. | ||
information asymmetryInformation asymmetry means that Jane knows more about
her business and future intentions than Emma, and vice versa. For example, Jane
knows that she doesn’t have a cost advantage but she counts on Emma not knowing that, and uses this to her
advantage. | ||
M |
---|
market equilibriumMarket equilibrium price and quantity are found at the intersection of the supply and demand curves. | ||
market structures | ||
maximum willingness to payHow many units of a product are consumers willing to
buy at a given price or what is the maximum dollar amount they are willing to
pay for a unit of the product. | ||
Michael PorterRead more about Michael Porter here | ||
N |
---|
nash equilibriumRead more about nash equilibrium here. | ||
normal profitProfits that are sufficient to keep the firm in
business but not enough to make the entrepreneur rich. | ||